Bharat Coking Coal IPO Listing Pushed to January 19; Grey Market Premium Stays Firm
- 16th January 2026
- 04:40 PM
- 2 min read
Summary
The listing of Bharat Coking Coal Ltd (BCCL) has been deferred to January 19, 2026, from the earlier scheduled January 16, following changes in the trading calendar due to municipal elections. Despite the delay, grey market indicators remain firm, with the premium pointing to a potential listing gain of around 58%.Mumbai | January 16
The listing of Bharat Coking Coal, a wholly owned subsidiary of Coal India, has been rescheduled to January 19, 2026, as per updated stock exchange communications.
The postponement comes in the wake of the BMC civic election results, which led to a change in the trading schedule.
While the listing timeline has shifted, investor sentiment around the IPO remains upbeat, supported by continued strength in the unofficial grey market.
Grey market premium remains strong
In the unlisted market, Bharat Coking Coal shares are trading at a grey market premium (GMP) of ₹13–₹14 per share, based on dealer estimates.
Based on the upper end of the IPO price of ₹23, the implied listing price is estimated at around ₹36–₹37 per share, translating into a potential premium of around 58%.
Note: Grey market premiums are unofficial and should be viewed only as an indicator of market sentiment, not a guarantee of listing performance.
IPO Subscription sees strong response
The public issue of Bharat Coking Coal saw strong investor participation, emerging as one of the most subscribed PSU IPOs in recent years.
Overall, the IPO was subscribed nearly 147 times, with qualified institutional buyers (QIBs) leading the demand at 310.81 times, followed by non-institutional investors (NIIs) at 258.16 times. Retail investors subscribed the issue 49.3 times, while the shareholder quota saw demand of 87.29 times, reflecting broad-based participation across categories.
IPO details
- Issue price: ₹23 per share
- Lot size: 600 shares
- Allotment date: January 14, 2026
- Revised listing date: January 19, 2026
The ₹1,071.11-crore IPO was entirely an offer for sale, involving 46.57 crore equity shares, with no fresh issue component.
Company snapshot
Bharat Coking Coal Ltd is engaged in the production of coking coal, non-coking coal, and washed coal, catering primarily to India’s steel sector. As per its offer documents, the company is India’s largest producer of coking coal, accounting for 58.5% of domestic output in FY25.
BCCL operates 34 mines across Jharkhand and West Bengal and holds an estimated reserve base of 7.91 billion tonnes as of April 2024 – representing over 20% of India’s total coking coal reserves. The company plays a critical role in reducing India’s reliance on imported coking coal, a key raw material for steel manufacturing.
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